In February of 2018 we were referred to Legal Momentum (a women's legal defense non-for-profit) who hired us to formulate and implement a real estate strategy for their next office space and guide them through the minefield that is the NYC office space market. After having jumped around on short-term subleases for their last three offices,
it became clear that a priority for the Board was to find a long-term home for the organization.
Understanding that being central to transportation was important we focused the search around transit hubs in submarkets that catered to a budget conscious non-profit. After identifying nearly 50 options that fit within the criteria of a more modern feel and a well run building we previewed each option and narrowed the choices so that we only showed the most relevant options.
We chose to focus on a building in the financial district and negotiated very favorable terms including a full build-out that would not cost Legal Momentum a penny. That being said, we always keep 1 or 2 backup options in play since there are myriad factors outside of anyone's control. Right as LM was going to execute the lease, we received a call from the landlord saying that a large tenant in his building needed the space that we were about to lease and that his "hands were tied."
We instantaneously pivoted to our next option and structured an even better deal in which LM would pick up more space for the same annual rent as the first option. Needless to say the executive director and the board were thrilled that we were able to secure a brand new, long-term space for the organization to call home.a